§ Mr. Knoxasked the Chancellor of the Exchequer if he will publish in the Official Report a table showing for each year since 1945 (a) in current prices, (b) in constant prices and (c) in constant 1976 prices, the United Kingdom's total overseas borrowing per head of population and per family.
§ Mr. Robert SheldonI assume the hon. Member is interested in the total overseas borrowing, net of repayments, by Her Majesty's Government and United Kingdom public sector bodies and including both foreign currency and sterling borrowing. The table below includes total overseas borrowing per head of population from 1963 and foreign currency borrowing per head of the population for each year from 1946. Figures of foreign currency borrowing for 1945 are not available, and estimates of this sterling borrowing, which comprises mainly overseas residents' holdings of British Government stocks and Treasury bills, are not available586W prior to 1963. Estimates at constant prices are not available for any years as there is no generally satisfactory method of producing such figures. Estimates of borrowing per family, or per household, have not been provided as this would require allocation between the household and non-household population on some arbitrary basis.
£ per head of population* Calendar year Foreign currency borrowing (net)† Total overseas borrowing (net)‡ 1946 +5 1947 +17 1948 +7 1949 — 1950 -1 1951 -1 1952 — 1953 -2 1954 -2 1955 -1 1956 +3 1957 +1 1958 -1 1959 -4 1960 -4 1961 +6 1962 -8 1963 -1 +1 1964 +7 +10 1965 +8 +6 1966 +1 +4 1967 -2 +5 1968 +11 +23 1969 — -8 1970 -7 +25 1971 -11 +8 1972 -11 -2 1973 +18 +18 1974 +32 +49 1975 +14 +7 1976 +50 +39 1977 +59 +75 * Minus sign indicates that repayments exceeded new borrowing in that year. † Comprises long, medium and short-term borrowing by Her Majesty's Government (including bonds issued in 1977 and borrowing under Eurodollar facilities) and borrowing by local authorities and public corporations. As far as possible figures are converted to sterling at the rate of exchange at the time of the transaction ‡ Includes, in addition to foreign currency borrowing, sterling borrowing from overseas monetary authorities, changes in overseas holdings of British Government stocks, Treasury bills and local authority securities, mortgages and deposits.